Brokerages Set Ingredion Incorporated (NYSE:INGR) Target Price at $155.17

Shares of Ingredion Incorporated (NYSE:INGR) have earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $155.17.

A number of research analysts recently weighed in on INGR shares. Oppenheimer raised their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Barclays lifted their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. UBS Group upped their target price on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. BMO Capital Markets lifted their price target on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Finally, StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th.

Ingredion Price Performance

INGR stock opened at $147.34 on Thursday. The company has a market capitalization of $9.60 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.26 and a beta of 0.73. Ingredion has a 52-week low of $101.00 and a 52-week high of $155.44. The business has a 50-day simple moving average of $139.58 and a two-hundred day simple moving average of $128.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. Ingredion’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 earnings per share. Research analysts expect that Ingredion will post 10.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 6,122 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. This represents a 17.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the transaction, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at $6,967,399.22. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,328 shares of company stock valued at $1,649,741. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Ingredion

A number of large investors have recently modified their holdings of INGR. Signaturefd LLC boosted its position in shares of Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock valued at $216,000 after acquiring an additional 85 shares during the last quarter. Tidal Investments LLC raised its stake in Ingredion by 0.5% in the third quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock valued at $2,720,000 after purchasing an additional 94 shares in the last quarter. Seelaus Asset Management LLC lifted its position in Ingredion by 3.3% during the third quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock valued at $451,000 after purchasing an additional 105 shares during the last quarter. Conscious Wealth Investments LLC grew its stake in Ingredion by 0.4% in the 2nd quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after buying an additional 106 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.